LIFT & GAIN LTD


Director	M De Carvalho


Company Secretary	AURIA ACCOUNTANCY LIMITED


Registered Address	Flat 1 Daisy Court
	6 Brownlow Road
	London
	N11 2DE


Registered Number	11091412 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		186,246		56,756
			186,246		56,756
Current assets
Debtors	4	158,807		22,662
Cash at bank and on hand		1		4,055
		158,808		26,717
Creditors amounts falling due within one year	5	(77,058)		(72,765)
Net current assets (liabilities)			81,750		(46,048)
Total assets less current liabilities			267,996		10,708
Creditors amounts falling due after one year	6		(133,559)		(10,417)
Provisions for liabilities	7		(35,386)		-
Net assets			99,051		291
Capital and reserves
Called up share capital			4		4
Profit and loss account			99,047		287
Shareholders' funds			99,051		291

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 30 September 2025, and are signed on its behalf by:

M De Carvalho
Director
Registered Company No. 11091412

LIFT & GAIN LTD

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Fixtures and fittings	-	4
Vehicles	-	5
Office Equipment	20	-

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	1		1

3.	Tangible fixed assets

	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 January 24	-	11,883	95,828	107,711
Additions	99,975	-	49,111	149,086
At 31 December 24	99,975	11,883	144,939	256,797
Depreciation and impairment
At 01 January 24	-	7,049	43,906	50,955
Charge for year	1,667	2,397	15,532	19,596
At 31 December 24	1,667	9,446	59,438	70,551
Net book value
At 31 December 24	98,308	2,437	85,501	186,246
At 31 December 23	-	4,834	51,922	56,756

4.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	530	5,893
Other debtors	158,277	16,769
Total	158,807	22,662

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	6,984	3,624
Bank borrowings and overdrafts	13,002	5,000
Amounts owed to related parties	1,000	1,000
Taxation and social security	44,431	60,341
Finance lease and HP contracts	11,641	-
Accrued liabilities and deferred income	-	2,800
Total	77,058	72,765


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

6.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	133,559	10,417
Total	133,559	10,417

7.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	35,386	-
Total	35,386	-